Chinese to invest at least $400 million in Zambian copper/cobalt ops | WHAT REALLY HAPPENED


Chinese to invest at least $400 million in Zambian copper/cobalt ops

China Nonferrous Metal Mining Corp. (CNMC) on Saturday pledged to invest $400 million in Zambia's Luanshya Copper Mines (LCM) after formally taking over the running of the mines, officials said.

Mines and Minerals Development Minister Maxwell Mwale said CNMC would also develop the Mulyashi project, which previous owners of LCM had said could start producing 60,000 tonnes of copper cathode by 2010.

Webmaster's Commentary: 

China and Russia are closing deals to get the raw materials they need; the US continues to bomb in its attempts to get what it needs.

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